Russian development bank contemplates soft loans for exports to Venezuala (160 words)

Published: 12/18/2001

According to Dmitry Titov, Chairman of the Russian Bank for Regional Development (VBRR), the bank is considering providing medium term financing to the Bank of Economic and Social Development of Venezuela for the purchase of an unspecified number of Il-103s produced by RSK MiG"s Lukhovizy Machine Building Plant (LMZ). The announcement of the possible sales of the aircraft comes as part of broader programme of sales of Russian equipment under an agreement of understanding between the two banks, signed during a recent visit to Venezuela by the Russian Premier Mikhail Kasyanov on the 14th December 2001. The VBRR was created in 1996 and numbers among its shareholders, the Russian Federal Property Fund, the oil company Rosneft and various federal property funds for Tatarstan, Khanty-Mansiysky autonomous region and the Irkutsk and Orel regions. The general aviation Il-103 has already gained Latin American sales client an aircraft having been sold to both civilian and military customers in Peru.

Article ID: 2966